This section has no associated Explanatory Notes
[F17.(1)This paragraph applies if—E+W
(a)the proportion of the chargeable consideration for a land transaction attributable to qualifying land (“the relevant proportion”) is less than 100%, and
(b)the effective date of the transaction is within the relief period.
(2)The tax chargeable in respect of the land transaction is reduced by a proportion equivalent to the relevant proportion.]
Textual Amendments